Sendera
Volume 10, Number 1
January 2015 Sendera Homeowner's Association
Official Community Newsletter
2014 FINANCIAL UPDATE
S E N D E R A H O M E OW N E R ' S A S S O C I AT I O N By Angie Flores, Treasurer It’s hard to believe that yet another year has gone by! Your Sendera HOA Board has continued to stay busy maintaining the neighborhood and making various improvements. Again, some of the improvements may have been evident to you while others may have gone unnoticed. It is the responsibility of your Board and management company, Pioneer Real Estate Services, to manage our HOA property so that we can sustain our property values and the values of the facilities your HOA owns. Over this past year, we have completed several projects that we felt were necessary for the betterment of the community. This year we completed the fence project and made the final payment to the contractor. We invested in new mulch for the common area to keep them looking fresh. Also, in the common areas, we did some work to the hike and bike trail between Sendera Mesa and Whiteworth. Along the pipeline, we cleaned up the brush so as to prevent vagrants from setting up camp in those areas. We also had to replace a few pumps at the pool. All this was completed while also maintaining the neighborhood. The pool was very busy this summer with lots of residents taking advantage of our great feature. Our recreation committee also held movie nights over the summer with snacks and great activities. This fall the recreation committee held a first-ever ladies night with vendors and food. This activity went well and allowed the women in the neighborhood the opportunity to meet each other and make some new connections. The committee hopes to have more activities like this one in the future. We appreciate all their hard work in putting all of our great social events together throughout the year, including the Easter Egg Hunt and the Run into the Summer. Look for new activities next year. Copyright Š 2015 Peel, Inc.
Last year, as well as this year, we utilized our Reserves to fund the fence project. For the most part, this year we have used monthly operating revenues to fund all costs. There have been a couple of months where we’ve had to again use the reserves to fund operations, because of unexpected repair costs such as the pumps and the resurfacing. These repair costs are definitely items that should be funded with that reserve. While we were able to complete all these repairs through our monthly operations and through the use of our reserve funds, costs continue to rise. As I mentioned last year, our monthly HOA dues had not increased in over 5 years. Because of rising costs and to continue to contribute to our reserve that has been so useful in maintaining our community, your HOA Board has decided to implement another due increase that will be effective January 1st. The monthly dues will be increasing from $34.65 to $36.38. This increase is necessary to support our 2015 budgeted expenses and contribute the recommended $3,400 per month to our reserve balance. We have also decided to reduce the amount of the discount that is offered to residents that prepay their dues in full during the month of January. Previously this discount was 10%, which allowed residents to pay $374.22 per year. With the increase and the reduction in the discount, the annual amount will increase to $414.73. This will save the association over $14,000 annually. In 2015, our budget includes our typical maintenance in the neighborhood, landscaping, pool maintenance, management costs and social activities. In relation to landscaping, we will see a 3% increase in landscaping costs this year. Two projects that will be completed in 2015 include the resurfacing of the surface under the (Continued on Page 3) Sendera Homeowner's Association Newsletter - January 2015
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